SS #12 - Agora $50M Raise For $AUSD

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Good Morning.

Welcome to our 12th edition of the StableScope. A new 2x a week, stablecoin-focused newsletter from Launchy. Given the growth of the vertical, there's an increasing demand for more recurring reporting and curation on stablecoins.

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In Today's Edition:

• Headline: Warren Unveils Crypto Standards

• Quick Bites: Mizuho Bearish on Circle's Stock

• Yield of the Week: 16.2% APY on Re Protocol

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HEADLINE

Warren Unveils Crypto Standards, Slams GOP 'Handout' to Industry

State of play: Elizabeth Warren has proposed strict new crypto regulations targeting corruption and money laundering.

• Warren wants stricter crypto rules, including bans on public officials profiting from tokens and tougher anti-money laundering provisions.

• The Senate and House are advancing competing bills to establish a regulatory framework for crypto, with debate over the roles of the SEC and CFTC.

• The issue is politically charged, with Democrats highlighting President Trump’s crypto profits and Republicans pushing for industry-friendly regulation.

What’s Next: Expect heated debate in Congress as both chambers consider competing crypto bills, with possible amendments to address corruption and consumer protection concerns before any legislation is finalized.

Why it Matters: The outcome will shape how crypto is regulated in the US, impacting innovation, investor protection, and the country’s position in the global digital asset market.

Our Take: A balanced regulatory framework is essential, as too much restriction could stifle innovation, while too little could invite abuse. The industry should prepare for stricter compliance requirements and increased scrutiny of political and financial ties.

QUICK BITES

• Mizuho is bearish on Circle's stock.

• Circle taps OKX to boost USDC liquidity.

• Agora raises $50M Series A led by Paradigm.

• Circle integrates a revenue-sharing deal with Bybit.

• Ant International plans to add USDC to its blockchain.

• BNY Mellon will custody dollar reserves for Ripple’s RLUSD.

• Bullish teams up with Solana for institutional stablecoin push.

• Tether invests in blockchain forensics firm Crystal Intelligence.

• Australia's central bank advances Project Acacia to test CBDCs.

• Senate confirms ex-blockchain exec Jonathan Gould to lead OCC.

• Ripple’s RLUSD hits $500M market cap within seven months of launch.

• Monad Foundation acquired stablecoin infrastructure developer Portal Labs.

• Bank of Korea Governor warns of ‘currency chaos’ from non-bank issuance of KRW stablecoins.

YIELD OF THE WEEK

Re reUSDE : 16.2% APY in USDe / sUSDe

• Re protocol is a decentralized platform that utilizes reinsurance contracts to generate yield on staked capital, allowing users to deposit stablecoins like USDC, DAI, USDe, and sUSDe into Risk Pools managed by qualified Cell Managers.

• In collaboration with Ethena, the protocol enables USDe holders to stake their tokens and earn yield through on-chain reinsurance, utilizing Ethena’s yield-bearing asset, sUSDe, to provide consistent returns from both idle capital and actively deployed funds.

• The yield on reUSDe is derived from two main sources: reinsurance premiums from diversified risk pools and idle asset optimization, where unutilized USDe funds are held in sUSDe to capture liquid staking rewards and other yield opportunities.

Wildcat Elk Crypto USD Coin: 13.14% in USDC

• Wildcat is a decentralized protocol that facilitates undercollateralized borrowing and lending, allowing borrowers to customize their loan terms and providing lenders with innovative capital deployment options.

• Elk Crypto, part of Elk Capital Markets, leverages extensive experience in traditional markets and high-frequency trading to serve as a reliable market maker and OTC partner for global exchanges, DeFi ecosystems, and institutional investors.

• Users must meet specific criteria for transactions, including a minimum deposit of $1K USDC, while withdrawals can be made at any time.

Usual Resolv Vault: 9.2% APY in USDD0++

• Usual Vaults introduce new yield layers for USD0++ holders, beginning with ustUSR++, which provides exposure to Resolv’s staked USR, Resolv points, and USUAL rewards, enhancing capital efficiency within the Usual ecosystem.

• When users deposit into ustUSR++, their USD0++ is exchanged 1:1 for USD0 and reinvested into stUSR. A base fee, capped at 4%, is applied to stUSR performance to ensure the Usual DAO recovers its previous risk-free rate, preventing dilution for USUAL holders.

• A performance fee of 20% is applied to stUSR's yield exceeding 4%, with half allocated to the curator, 9Summits, and the other half to the Usual DAO, thereby strengthening the ecosystem and providing benefits to USUAL holders.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.